A Big New Demand for Conferencing
It's easy to see the value of conferencing just by a quick look at the concept; the ability to provide an inexpensive and easy-to-use means to connect users in different departments, branches, or even businesses. It saves on travel expenses, too, which makes it especially welcome in many multinational corporation (MNC) operations. With an increasing number of such firms, especially those based in North America, showing demand for conferencing systems, it's clear the market for these products is on the rise in general.
A new report from Transparency Market Research spelled out some of the key points involved here, noting that increasing globalization of businesses, as well as the rising costs of such operations, would produce an environment ripe for opportunity in the conferencing market. Since conferencing can provide that necessary communications bridge between geographically-dispersed operations, and for a comparatively low cost, it should be a popular new addition to current efforts.
Naturally, that's not where the use cases stop for conferencing operations, but rather only begins. An increase in the use of telemedicine—where physicians connect to patients via conferencing systems—is also going to spark demand as more unusual specialties that can't be immediately supported in some areas branch out. Remote patient monitoring—where healthcare providers monitor patients via remote connection often located in the patient's home—only adds to healthcare's demand for conferencing systems.
Throw in the increasing use of conferencing in education and other markets—distance learning has long been a practical application, and with conferencing, distance learning becomes ultimately feasible—and the opportunities abound. The report follows the market through 2023, and includes comparisons of various acting firms within the wider market, as well as key players and the various strategies that may be undertaken by the firms involved.
To say that conferencing will see substantial growth through the next six years or so is almost disingenuous. We all but know it will; barring some kind of economic catastrophe, it's hard to see how a technology that delivers both cost savings and greater value—as well as potential revenue boosts—would be anything but widely-received. Anyone would cheerfully pay $100 for a box that produces $1 worth of gold every day, if it comes with a four-month money-back guarantee.
The conferencing market is producing too much value, too routinely, to not be a part of business operations today. To suggest the market is on an upward trajectory can't be far wrong, as it would take something terrifying in nature to derail a market with that much potential value. We'll likely see a climb here, and are already seeing the start of it now.
Edited by Alicia Young